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Konecranes’ Annual Report reviews the results of the company’s successful integration work

March 7, 2018

“We are preparing a solid base upon which to develop our next phase, which will be one of growth,” says Panu Routila, President and CEO of Konecranes, in the company’s annual report.

Konecranes’ Annual Report 2017 details the company’s continued progress in serving customers and providing technologies that fulfill their needs.

The synergies of Konecranes’ acquisition of MHPS are worth up to EUR 140 million, and the company is currently in the process of a transformation. Nevertheless, each of the business areas within this new united group achieved strong performance in 2017.

Konecranes Business Area Service was able to perform much of its integration work, Industrial Equipment underwent the first phase of its turnaround, and Port Solutions showed a satisfying order intake thanks to a widened product offering and the additional coverage provided by the new organization.

Panu Routila attributes a significant part of the previous years’ success to Konecranes’ stakeholders and their continued faith in the company’s capabilities. “While there remains much to be done, this represents an excellent start to the journey,” he writes.

As part of the work of integrating MHPS with Konecranes, Konecranes also introduced a new Health, Safety and Environment (HSE) management structure which better supports the company’s current business model and ensures that these aspects are taken into account on all organizational levels.

“Two powerful brands have combined, becoming vastly more than the sum of their parts, and we are very happy to have arrived at such an excellent market position,” says Routila.